Karnataka IT exports worth $5 billion in six months

Bangalore: Maintaining leadership position, IT firms in Karnataka posted record software exports in the first six months (April-Sep) of financial year 2007-08, touching 195 billion ($5 billion), an official said here Thursday.

This was against 160 billion ($4 billion) in the same period of last fiscal, director of Software Technology Parks of India (STPI), Bangalore, J. Parthasarathy told IANS here on the sidelines of an event.

"IT exports from Karnataka registered over 20 percent growth in the first half of current fiscal. About 90 percent of exports in software and BPO (business process outsourcing) services was accounted by IT and ITES firms in and around Bangalore," he added.

The state also witnessed a record number of 70 new technology firms launching their business from other cities such as Mysore, Mangalore and Hubli during the last six months.

"Of the 70 new firms, 32 are overseas companies setting shop with 100 percent foreign equity in the IT and ITES space. Majority of them are from the US and Europe," Parthasarathy said at a preview of the upcoming Bangalore IT.in 2007 event here next week.

The IT industry in the state added a whopping 30,000 people to employees over the last six months, taking the total number of employees in the sector to 430,000.

To decongest Bangalore, the STPI is setting up two incubation centres in Mysore and Gulbarga in north Karnataka.

"With these, the total number of such centres in the state will be five, including one each in Bangalore, Mangalore and Hubli," Parthasarathy noted.

Meanwhile, state IT secretary M.N. Vidyashankar told reporters that state Governor Rameshwar Thakur would inaugurate the four-day technology event - IT.in 2007 - at the newly-built International Convention Centre on the outskirts of the city Oct 29.

"As Asia's biggest IT and telecom event, Bangalore IT.in has attracted over 200 firms, including 70 multinationals, to showcase their products and services at the exposition," Vidyashankar affirmed.

Delegations from 20 countries, including Australia, Britain, Canada, China, Germany, Japan, Korea, Malaysia, Russia, Singapore, Sri Lanka and Taiwan will participate in the tenth edition of the mega IT event in the country.
Source: IANS